Iraq's 2027 budget proposal relies on $58 crude oil and 4 million barrels per day in exports, yet the nation still faces a projected deficit of over 40 trillion dinars.
Iraq's 2027 budget assumes $58 per barrel oil, reflecting the government's baseline crude price expectation and highlighting fiscal vulnerability to oil price fluctuations.
Iraq has drafted its 2027 budget based on a conservative $58 per barrel oil price, projecting total spending of 217 trillion dinars. Despite these estimates, the government faces a significant fiscal shortfall, with lawmakers anticipating a deficit exceeding 40 trillion dinars.
The $58 price serves as the baseline for revenue projections, but it remains well below the level required to balance the national budget, highlighting Iraq's ongoing fiscal vulnerability.